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CORPORATIONS - Voluntary liquidation and dissolution

Thursday, August 23, 2018 @ 8:48 AM  

Appeal by four strata property owners from a winding up order and sale of the strata property. The corporation was facing increasing capital expenditures to maintain and repair its building and physical infrastructure. The corporation decided to sell the entire building to a developer in light of re-zoning in the area permitting increased density. The strata council agreed to sell the property to Townline if a number of conditions precedent were met. More than 80 per cent of the owners voted to wind up the strata...